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Laurel Road personal loans review

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Pay for a big purchase or consolidate debt with fair rates and repayment terms of up to five years.

finder.com’s rating: 4.4 / 5.0


Laurel Road (formerly DRB) is a bank that specializes in student loan refinancing while offering personal loans to pay for life’s next big steps or surprises.


Max. Loan Amount

8.01% to 16.30%



Min. Credit Score


Product NameLaurel Road Personal Loans
Min. Loan Amount$1,000
Max. Loan Amount$45,000
APR8.01% to 16.30%
Interest Rate TypeFixed
Min. Credit Score680
Minimum Loan Term3 years
Maximum Loan Term5 years
Go to Laurel Road Loans's website

First, do I qualify?

To qualify for a Laurel Road personal loan, you must have a minimum credit score of 680+, be a US citizen or permanent resident and be at least 18 years old. Laurel Road personal loans are best for people with annual income of $60,000 or more who have debt of less than 40% of their income.

What are Laurel Road personal loans?

Laurel Road offers personal loans with rates that start at 8.01%, depending on the loan you select and your creditworthiness. You’ll pay no origination fees or prepayment penalties and could be eligible for a personal loan with longer terms, lower rates and minimum payments if you work in the medical profession.

What makes Laurel Road personal loans unique?

Laurel Road’s personal loans are on par with competitors in terms of rates and terms offered. Laurel Road offers additional benefits, including a higher maximum loan amount of $80,000 for doctors and dentists and minimum monthly payments of just $25 for residents and fellows.

What are the benefits of a Laurel Road personal loan?

  • Autopay discount. Get a 0.25% discount on your rate when you sign up for autopay from a bank account.
  • Easy application. Apply online in about five minutes to learn the loans and terms you qualify for.
  • No extra fees. Pay no origination fees or prepayment penalties with this loan.
  • Stronger loans for doctors. If you’re a medical professional, you may be eligible for higher maximum loan amounts, longer terms and lower rates.
  • Referral bonus. Get a $300 reward for referring any new customers who take up a personal loan with Laurel Road.

What to watch out for

Laurel Road highlights the many benefits of its personal loan online, but it doesn’t provide quite as many details as those you’ll find for its student loan refinancing product. If you have any questions about this loan, be sure to ask a customer service representative before signing a contract.

Compare Laurel Road personal loans to other options

Updated November 15th, 2019
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What do customers say about Laurel Road?

Laurel Road has mixed online reviews as of July 2018, though most are positive. It gets an A+ rating from the Better Business Bureau (BBB) based on business practices. But the two reviews on its BBB page are negative and four customers have filed a complaint against the bank.

It does much better on Trustpilot, scoring a 9.1 out of 10 based on 100 reviews. Over 85% of reviewers called it “excellent” and only 4% called it “bad.”
More about Laurel Road loans

Am I eligible for a Laurel Road personal loan?

To apply for a personal loan with Laurel Road, you must be a US citizen or permanent resident with a valid I-551 card. You’ll need to meet Laurel Road’s underwriting criteria, including employment, disposable income, debt-to-income and credit history requirements.

Other eligibility requirements, such as your education credentials, may apply for those looking to get the benefits offered to medical professionals. Most reviewers were happy with the quality of customer service, which some called “personalized” and “seamless.”

But some were not so pleased. One customer said that Laurel Road pulled their credit without their permission and wasn’t able to change incorrect information on their application. Another called the whole experience “annoying.” Keep in mind that customers tend to leave reviews when they’re extremely happy or upset about their experience. In other words, reviews might not be reflective of the average customer experience.

What should I expect when I apply?

You can apply for a personal loan through Laurel Road’s short online application in just a few steps. Simply click the Go to site button on this page to be directed to Laurel Road’s website. From there, you’ll click the Apply Now orange button to fill out the form.

Fill in your personal information such as your name, email, date of birth and Social Security number. Then click the next dropdown to continue.
Laurel Road personal loan application form 1

Fill in your employment status, monthly rent/mortgage payment, highest level of education. Here you’ll be asked how much you want to borrow and for what reason.
Laurel Road personal loan application form 2

You’ll have to confirm that you’ve read and agree to the Disclosures and Policies document. Checking your quoted rate won’t impact your credit score, but if you decide to move forward Laurel Road will conduct a hard credit pull that may cause a dip in your credit score.
Laurel Road personal loan application form 3

What happens after I apply?

After choosing your terms, you’ll upload documents that could include:

  • Government-issued photo ID.
  • Two recent pay stubs.

Once Laurel Road makes its decision, you’ll receive a letter with your rate and disclosure information. The final step is accepting the loan’s terms and signing your promissory note.

Go to Laurel Road Loans's site

I got the Laurel Road personal loan. Now what?

  • Sign up for autopay. Save 0.25% on your interest rate by setting up automatic payments from your bank account.
  • Avoid unnecessary fees. Laurel Road may charge a penalty fee for late payments. Autopay can help you avoid any potential fees that come with late payments.
  • Contact customer service. Contact Laurel Road at 855-245-0989 or help@laurelroad.com. Live chat is available through Laurel Road’s website.

Bottom line

Laurel Road’s personal loans are an easy way to get the funding for many needs. If you’re a medical professional, you could qualify for better rates and longer terms.

You may want to compare Laurel Road to other lenders to make sure you get the strongest rate and repayment terms that you qualify for.

Frequently asked questions about Laurel Road personal loans

Personal loan ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top personal loan providers and rate them one to five stars based on factors that are most important to you. These factors include: rates and fees, customer reviews, loan amounts, loan processing and borrower experience.

Read the full methodology of how we rate personal loan providers.

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